The South Korea temperature sensors market is expected to increase to $0.22 billion by 2018 at a CAGR of 4.82% over the period 2015-2020

Temperature sensing has been gaining importance, particularly in R&D and industrial settings, giving rise to high demand for temperature sensors. Companies operating in the market have been investing heavily in research and development activities in order to develop and enhance temperature sensor functionality. Increasing adoption of HVAC modules is expected to favorably impact the South Korea industry. Even the technological advancements and reduced prices have resulted in Introduction of new applications in the HVAC space.

Growing demand for consumer electronics such as smartphones, cameras and media players make use of microprocessors, which is expected to boost market growth, as they have temperature sensing ICs. Temperature controls are essential for manufacturing, handling and storing of medical equipment and drugs. They are increasingly used in communication industry with growth in handheld communication devices.

Intense competition and significant price cuts may restrain the temperature sensors market over the forecast period. South Korea is estimated to account for a share of 14% in the Asia Pacific Temperature Sensor Market in 2014. In South Korea, consumer electronics industry is contributing substantially to the demand for temperature sensors. As technical innovation in sensor technologies is low, product differentiation has remained challenging for manufacturers

The South Korea Temperature Sensors Market is segmented on the basis of